CIS Compliance

24th September 2014

Proposals to Reduce the CIS Tax Compliance Burden on Construction Sector.
The Chartered Institute of Taxation (CIOT) has published its response to HMRC’s proposals to introduce mandatory online CIS filing for contractors, amend the gross payment status turnover and compliance tests and improve the sub-contractor verification process. It welcomes the proposals aimed at reducing the burdens on the construction sector, which it says tends to get a ‘worse deal from the tax system than any other trade’, with ‘more reporting, more potential to suffer penalties and a higher level of compliance expected than any other group.’

  1. It also agrees that online filing should be the default option for CIS returns, although this should be subject to safeguards.
  2. In addition, it welcomes proposals to:
    • •reduce the number of compliance tests;
    • introduce an online appeal system and remove the statutory obligation to file a ‘nil return’;
    • develop an integrated online account;
    • improve the online verification service, although it does not agree with mandating online verification as the sole means of verifying a sub-contractor’s status.


 
Other items in Blogs
 
Neil Groom
12th October 2017 Trust Registration Service

  HMRC has released guidance for trustees and their agents for the new online Trust Registration Service (TRS) which has been operating since the middle of July. The new service replaces the old form 41G, as well as a section of the trust tax return used to report changes in trustee contact details.   Trusts…

Read More »

Mark Burrows
11th October 2017 Making Tax Digital – will free software be available?

  When Making Tax Digital (MTD) was first announced, HM Revenue & Customs said that free software would be available for the most straightforward small businesses.  Under MTD records of business income and expenses will be required to be kept digitally using a software product or app.   HMRC have since provided clarification on which…

Read More »

Thomas Carter
11th October 2017 Xerocon London 2017

Two fantastic days at Xerocon London on 4th and 5th October as 2000 attendees from 24 countries descended on the ExCel, the annual event for Xero Partners. Over the two days, four of our staff: Tom Carter, Dan Coleman, Steph Tinkler and Chip Moore attended the event. It was an opportunity to learn about new…

Read More »

Philip Peters
5th October 2017 HMRC “Connect”: Now checking businesses that should VAT register.

We have known since 2010 that HMRC has a computer programme, called “Connect”, that is collecting data from a variety of sources about taxpayers, and then using this intelligence to check on correct tax compliance. We have known that these data sources include Banks, Social Media, DVLA, Local Authorities, Foreign Tax Jurisdictions and Land Registry.…

Read More »

Catherine Hubbard
5th October 2017 Simple Assessment

  HMRC have now implemented their ‘Simple Assessment’ project, where they use the information already available to them from employers, pension providers, the DWP and banks to calculate the tax for those with straightforward or ’Simple’ tax affairs, without the need for a tax return to be completed.   In theory this sounds like an…

Read More »

Julie Quayle
27th September 2017 Parental Bereavement (Pay and Leave) Bill Introduce to Parliament

  For the first time, parents who are employed and have suffered the death of a child would receive statutory paid leave to grieve, under a new law being supported by the Government. Currently, employees have a day-one right to take a “reasonable” amount of time off work to deal with a family or dependant…

Read More »